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Updated about 3 years ago on . Most recent reply

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Ryan Brown
  • Financial Advisor
  • Columbus, OH
0
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1
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Should I sell my condo?

Ryan Brown
  • Financial Advisor
  • Columbus, OH
Posted

BiggerPockets community,

I come to you today looking for some advice.  I am a small level landlord (I own a duplex with both sides rented out and a condo which I live in and also rent out my guest bedroom).

I am looking to house hack but unfortunately I believe my condo may be holding me back from my goals because my HOA does not allow the units to be rented out.

I have lived in this condo for 2 years and in that time it has appreciated by about $30,000 so I can sell it and make a positive profit (but will need to pay $12,000 in realtor commissions.

Does anyone see an option other option if I want to continue buying properties?  In hindsight I believe buying this condo may have been a bad idea because I was not aware of this stipulation beforehand.

In an ideal world I would like to keep the condo but I don't believe that is a possibility. 

Thanks for all your help!

All the best,

Ryan Brown

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